As it happened: Stocks rise as oil fluctuates after Red Sea attack; US-Iran deal ‘being circulated’ FTSE 100 Live Welcome back to the Morning Wire liveblog. Oil prices have snapped a losing streak following Yemen’s Houthis said they had attacked a Saudi vessel in the Red Sea. Brent crude drew back above the $80 per barrel mark on Wednesday morning on the news, but prices were still down for the week by around 10 [...]
FTSE 100 giant ABF shares slide as it braces for £60m sugar crash after Iran war Retail FTSE 100 giant Associated British Foods has issued a major warning on the state of its sugar businesses over “the duration and severity of the Middle East conflict”. The multinational conglomerate – which spans across the food and retail industry – said it expects its sugar operation to deliver a loss of as much as [...]
UK gas prices spike over 90 per cent amid US-Iran war Economics Gas prices in the UK have nearly doubled as the war between US and Iran ramped up since the weekend. The price of UK wholesale gas prices – which reflect the costs energy suppliers pay to producers for natural gas before selling to household and businesses – has rocketed by 93 per cent in just [...]
Change windfall tax to make £137bn by 2050, Chancellor told September 1, 2025 Chancellor Rachel Reeves has been urged to reform the windfall tax in a move that could boost the economy by £137bn by 2050. Ahead of the start of its conference in Aberdeen this week, trade body Offshore Energy UK (OEUK) released a report claiming replacing the energy profits levy next year with a profits-based mechanism [...]